Are you eligible for this Maybank home financing?

Things you might want to know

What is Maybank Commodity Murabahah Shoplot Financing-i?

Maybank's simple property mortgage is a Syariah compliant mortgage for financing of any kind of SME property purchase. This loan is strictly for property under a commercial title, such as shop houses, shop offices, commercial lots in a shopping complex, office lots, factories, industrial buildings and service apartments. Shoplot Financing-i can also be extended to refinancing, remortgage, additional financing, conversion from other loans, or even restructuring.

What is so great about this loan?

The interest rate for Commodity Murabahah Shoplot Financing-i comes in three varieties: fixed rate, tiered rate or variable profit rate, the last two are pegged to the IBR. You can choose which one best suits your financial needs, as there is no one-size-fits-all deal!

The variable rate is capped at 10%, which means the interest rate you will be paying throughout the whole loan period will never surpass 10% even when the IBR skyrockets!

Can I bank in extra funds to reduce my loan principal?

Yes you can. You can even do it online in your pajamas. There are no special rules about informing the bank when and where you paid, unless the property is still under-construction. In that case, you must pay over the counter with prior notification.

Can I withdraw the additional cash I have banked-in?

Yes. You can only withdraw funds over the counters at your home branch, and you'll be charged RM25 for each debit. You can withdraw any amount as long as it’s in multiple of thousands.

Do I have to pay any fees?

You will have to foot the standard stamp duty and legal fees because Maybank does not offer zero moving cost (ZEC). You'll also get 20% discount on stamping fees on principal documents.

Do I need insurance?

Homebuilding Takaful (Fire Insurance) is compulsory. Maybank will give you the option to throw in the MRTT, but it is entirely optional.

What kind of documents will I need to provide to apply for this loan?

Salaried applicant:

Copy of MyKad (front and back) or latest valid passport

Last 3 consecutive months salary slips

Latest 6 consecutive months commission statement

Latest EPF statements with 3 consecutive months or more transaction history

2 years EA From with tax receipt duly acknowledged by LHDN

Last 6 months Bank Statement

Letter of Confirmation of Employment and Remuneration from your employer

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